Foundation of Bombay

However, the growing powers of Marathas became a headache for the company. Surat was open to constant raids by the Marathas and was beyond the protection of the guns of the Company's ships, and the other factories were no better placed, while Bombay was not safe from Mogul and Maratha fleets.

• Sir George Oxenden, who had been president at Surat since 1662 and defended the factory from the Maratha raids became the First Governor of Bombay on its acquisition by the Company in 1668 with power to nominate a deputy-governor to reside on the island, but he was placed under the control of the president and council of Surat.
• English officers and privates were invited to enter the company's service, and thus the first military establishment of the East India Company at Bombay was created.
• On 14 July 1669 Oxenden died at Surat and he was succeeded by Gerald Aungier, the second Governor of Bombay.
• Gerald Aungier laid the foundations of Bombay's importance.

He took possession of Colaba and Old Woman's Island from the Portuguese and thus completing the transfer of power to the British.

In his time, the first mint was started at Bombay and also first printing press was set up in Bombay which was imported. He died in 1677 and was followed by John Child, who assumed the duties of governor and general in October 1681. However, John Child never had the official title of governor-general.

The Arrival of French East India Company

• Among the Dutch, Danish, Portuguese and French, the French East India Company was the last to be formed.
• However, the first East India Company (Voyage) founded by the French State was in 1603. This voyage was captained by Paulmier de Gonneville.
• This was called Compagnie des Indes Orientales and was authorized by Henry IV , granting the firm a 15-year monopoly of the Indies trade.

The second voyages was carried out in 1611; then third in 1615; the fourth, Richelieu's French East India Company in 1642, and the fifth, Colbert's, in 1664.

These early French Indian Companies were just trading voyages and left no establishments in the East Indies. After the troubles of Louis XIV were over and he was firmly seated on the throne of France, and after the Island of Bourbon or Reunion and Madagascar had happened, the French ministers were firm on the idea to look for a field for commercial expansion of the French Trade.

The French acquired the Island of Bourbon in around 1650 and were trying to make establishments at the Madagascar.

• The fifth French East India company was planned by Jean-Baptiste Colbert, who hoped to win a share in the profitable India trade.
• He founded the French East India Company in 1664 with the intention of rivaling the success of the English and the Dutch in India.

The initial attempts of the company to found a successful colony on Madagascar, got failed. In 1667, under Francis Caron, the company established first factory at Surat and second factory was established at Masulipattanam a year later.

• In 1674, the François Martin of French East India Company established a trading center at Pondicherry, which eventually became the chief French settlement in India.

The Dutch captured Pondicherry in 1693 but returned it to France by the Treaty of Ryswick in 1699.

The French acquired Mahe in the 1720s, Yanam in 1731, and Karaikal in 1738.

François Martin also established a factory at Chandranagar in Bengal.

A new factory in 1688 was established at Chinsura but want of support from France brought the Company's affairs in India to a low ebb and the French East India Company felt obliged to cede its right of monopoly to some enterprising merchants of Saint-Malo.

• In February, 1701, Pondicherry was made the capital of the French settlements in India, and François Martin was appointed president of the superior council and director general of French affairs in India. Martin died December 30, 1706 and this followed a series of the successors.
• Till 1720, the factories at Surat, Masulipattanam and Bantam had to be abandoned because of the adverse conditions back at home.